https://www.taxtmi.com/caselaws?id=420541 The Tribunal dismissed the appeal seeking substantive consolidation of the Corporate Debtor and Respondents Nos. 2-6, upholding the Adjudicating Authority's decision. It emphasized the distinct legal identities and separate causes of action of the companies, stating that consolidation should be an exception rather than the rule. The Tribunal highlighted the limited jurisdiction to review commercial decisions of the Committee of Creditors, finding no irregularity in this case. No costs were awarded, and the related application was disposed of accordingly. en-us Mon, 04 Apr 2022 00:00:00 +0530 Tue, 05 Apr 2022 09:07:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420541 The Tribunal dismissed the appeal seeking substantive consolidation of the Corporate Debtor and Respondents Nos. 2-6, upholding the Adjudicating Authority's decision. It emphasized the distinct legal identities and separate causes of action of the companies, stating that consolidation should be an exception rather than the rule. The Tribunal highlighted the limited jurisdiction to review commercial decisions of the Committee of Creditors, finding no irregularity in this case. No costs were awarded, and the related application was disposed of accordingly. Case-Laws Insolvency and Bankruptcy Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420541